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Giving from Your 401k or IRA Retirement Plan

Gift of Retirement Plan Diagram

You've worked hard and planned for retirement. Now, with a little creativity, you can leverage your retirement assets to benefit you and your family, reduce federal taxes, and support School Ministries of Birmingham far into the future.

How It Works

  • Name School Ministries of Birmingham as a beneficiary of your IRA, 401(k), or other qualified retirement plan.
  • Pass the balance of your retirement assets to School Ministries of Birmingham by contacting your plan administrator.
  • Important! Tell School Ministries of Birmingham about your gift. Your plan administrator is not obligated to notify us. So if you don't tell us, we may not know.

70 ½ or older? Make a “Tax-Free” Gift Through Your IRA

Benefits

  • Continue to take regular lifetime withdrawals.
  • Maintain flexibility to change beneficiaries if your family's needs change during your lifetime.
  • Your heirs avoid the potential double taxation on the assets left in your retirement account.

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The material presented on this Planned Giving website is not offered as legal or tax advice.
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School Ministries of Birmingham is qualified as a charitable organization by the IRS Code section 501(c)(3) and is an Alabama nonprofit corporation. All donations are tax deductible to the full extent allowed by Federal and State law.

A long time ago, children got into trouble for chewing gum or skipping down the hallway—but not now.  Today it is much more serious -- drugs, murder, sexual assault and other serious violent felonies.  Today children are reaching out—no, screaming out for help.  Released Time education pays off in that students have more self respect, better behavior at school and at home,  and improved academic performance.

                                                                 ~David Beasley, Former Governor of South Carolina